China’s Central Bank Warns Investors of ICO Crypto Risks

China's Central Bank Warns Investors of ICO, Crypto Risks

China’s central bank, the People’s Bank of China (PBoC),

has today, September 18, issued a new public notice “reminding” investors of the risks associated with Initial Coin Offerings (ICOs) and crypto trading. The notice, released from the bank’s headquarters in Shanghai, reiterates the severe line that has been adopted by the country’s Office for Special Remediation of Internet Financial Risks, which first introduced a blanket ban on ICOs in September 2017. Today’s notice censures the “unauthorized” and “illegal” ICO financing model for posing a “serious disruption” to the “economic, financial and

social order”:

“[ICOs are] suspected of illegally selling tokens, illegally issuing securities, illegal criminal activities, financial fraud, pyramid schemes and other illegal and criminal activities.”

The PBoC has today hailed the successes of the country’s stringent restrictions that have targeted ICOs and a broad spectrum of crypto-related activities to date,

claiming that:

“[T]he global share of domestic virtual currency transactions has dropped from the initial 90% to less than 5%, effectively avoiding the virtual currency bubble caused by skyrocketing global virtual currency prices in the second half of last year in China’s financial market. The impact has been highly recognized by the community.”

Nonetheless, the bank recognizes that several challenges remain, notably the prevalence of offshore exchanges that are used by investors to circumvent the mainland ban. The PBoC notes that the Office for Special Remediation of Internet Financial Risks has now adopted a series of targeted measures, including blocking up to 124 IP address suspected of providing a gateway to domestic crypto traders.  

It further points to redoubled efforts to “clean-up” payment channels and strengthen monitoring and inspection mechanisms, noting that around 3,000 accounts have already been closed as a result of increased oversight. Lastly the notice outlines recent measures undertaken to counter the circulation of crypto “hype” materials. As previously reported, on August 25 the PBoC had already issued a fresh risk alert against “illegal” ICOs, warning that blockchain and the idea of “financial innovation” are being used to lure investors as a “gimmick” that conceals essentially fraudulent Ponzi schemes.

This summer has seen an onslaught of toughened anti-crypto measures from Beijing, which have included a ban on commercial venues from hosting crypto-related events in certain districts. Alongside ‘offline’ measures, China’s tech titans – Chinese ‘Google’ Baidu, Alipay’s Alibaba and WeChat-developer Tencent – have all tightened their monitoring and acted to ban accounts suspected of engaging in or propagating crypto and even blockchain related activities.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/not-high-performance-tradeshift-ceo-prudent-on-blockchain-supply-chain-potential

The best Airdrop-friendly Cryptocurrency Exchanges

The best Airdrop-friendly Cryptocurrency Exchanges

Cryptocurrency Airdrop is a great way to get acquainted

with the Project and get some free Tokens. For over a year now Cryptocurrency Airdrops have been quite popular, many people have gained diverse Airdrop Tokens, this blog is about the best exchanges to trade your Tokens. ICO’s often illustrate their roadmap in a creative way, but is very useful to use as a reference point in selling the tokens from their Airdrop, essentially allowing the ICO to show their true worth. Once you have decided to sell your Airdrop tokens, it is time to select an Exchange. To find where the tokens are traded, you can use coinmarketcap.com.

As of June 20th according to coinmarketcap, Binance offers their customers to trade over 357 different crypto markets. Not is Binance only a large Exchange, it is also user-friendly in managing your assets and performing the trades. There is a limit in daily trading volume as usual, which can be increased by performing a KYC. A few examples of Airdrop tokens that are currently traded on Binance: BRD Token, Waves & Aelf. Another advantage of using Binance is that some Airdrops are automatically supported. For example, holders of EOS who keep their EOS on their Binance account will automatically be eligible for IQ, DAC & EON Airdrops!

Another user-friendly cryptocurrency exchange, KuCoin, is known to list trading pairs of tokens manufactured by quality ICO’s. If one of your Airdrop Token is listed on KuCoin, it is a good idea to hold them. Oyster did an Airdrop some time ago with AirdropAlert where PRL tokens were distributed. PRL tokens are traded on KuCoin and holders of PRL tokens were given SHL tokens (another Airdrop by Oyster, but new application). If you held PRL tokens on KuCoin, you’ve gotten SHL tokens automatically! Including other reasons, this explains why KuCoin is popular among Airdrop Hunters.

Supporting over 240 cryptocurrency trading pairs, Huobi is definitely one of the exchanges where you will be able to trade your Airdrop tokens first. Huobi is a Chinese cryptocurrency, tokens based on the Neo blockchain (Nep-5 Tokens) are therefore more likely to be listed on Huobi first. Huobi is based in Beijing, China and is founded in 2013, Huobi targets their audience whom are based in China. Most locals in China know what a Bitcoin is and have heard of the blockchain technology. Airdrops are referred to as ”candies”, it is very probable that tokens from Chinese/Asian ICO’s are listed on Huobi, which is why Huobi is selected as one of the feasible Cryptocurrency Exchanges to trade your Airdrop Tokens.

Compared to the previously mentioned cryptocurrency exchanges, EtherDelta distinguishes itself by representing a decentralized trading platform for Ether and tokens based on the Ethereum blockchain (ERC-20). This means that no single server or person owns the exchange or its service. Using EtherDelta is done by submiting your private key and allowing you to place orders directly from your wallet. Downside of this is that there are phishing websites imitating EtherDelta, you don’t want to give them your private key! Since most Airdrops are essentially Tokens based on the Ethereum blockchain, EtherDelta is an excellent choice to sell your tokens.

Article Produced By
Airdrop Alert

https://www.airdropalert.com/icoreview/best-exchanges-for-airdrops/

Federal Judge Applies Long-Established Securities Law to ICOs

Federal Judge Applies Long-Established Securities Law to ICOs

Federal Judge Applies Long-Established Securities Law to ICOs

Does a decades-old securities law apply to an initial coin offering (ICO)? In a case that represents the first time securities laws have been applied to cryptocurrencies, a district judge says it may. On September 11, 2018, in a district courthouse in Brooklyn, New York, Judge Raymond Dearie ruled that two ICOs were securities, based on established laws that govern the financial instruments. His decision does not imply that all ICOs are securities, but that simply calling a token a “currency” does not preclude it from being classified as a security.  

Turning back a few pages, in October 2017, businessman Maksim Zaslavskiy was accused of misleading investors in two separate ICOs. He raised about $300,000 in a cryptocurrency called REcoin, which he claimed was backed by real estate, and a cryptocurrency called Diamond, which he claimed was backed by diamonds. In truth, no real estate nor diamonds backed either of the coins, and Zaslavskiy was charged in a criminal complaint with conspiracy and two counts of securities fraud — charges that carry up to five years in jail and a fine. Zaslavskiy moved to have the charges dismissed. He argued that his ICOs were not securities, but “the exchange of one currency for another,” and that securities laws are too “unconstitutionally vague” to be applied to his case. 

Cornell law professor Robert Hockett calls the insistence that the laws are vague a “Hail Mary.” “It is a fallback argument,” he told Bitcoin Magazine. “At first the defendant says the law is clear in that it clearly does not apply, but then he effectively says, ‘I have no way of knowing what I can do because the law is unclear.’” Judge Dearie found the laws clear enough. He pointed out that laws are meant to be interpreted flexibly. He then went on to determine that the two ICOs in question were “investment contracts” by applying the Securities Exchange Act of 1934, one of the most important pieces of legislation governing securities, and the Howey Test, a checklist regulators use to determine if an asset is a security.

Specifically, the Howey Test determines that a transaction represents an investment contract if "a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party." According to case documents, Judge Dearie found that REcoin and Diamond investors “undoubtedly expected to receive profits in their investments.” In his arguments, Judge Dearie also referenced the DAO Report, an investigative report issued by the U.S. Securities and Exchange Commission (SEC) in July 2017 claiming that tokens sold on an Ethereum-based investment fund were securities, and public statements made by SEC Chairman Jay Clayton on cryptocurrencies and ICOs in December 2017. At that time, Clayton noted that “simply calling something a ‘currency’ or a currency-based product does not mean that it is not a security.”

“Combined with statements the SEC chairman made previously, yesterday’s decision lends further credence to what many of us believe, which is that offered coins will count as investment contracts and hence securities,” said Hockett. “The SEC has made noises that ICOs were securities, but up until now, there has been no official legal ruling declaring they were.” The case still has to go to trial and, ultimately, it will be up to a jury to decide whether the ICO in question was a security. Still, Hockett said: “I really doubt an appellate court will overturn the district court’s ruling.”  

ICOs have been a major source of controversy in the crypto space. So far, about $20 billion has been raised in ICOs, most of that in the last two years. In a talk at MIT in April 2018, Gary Gensler, former chairman of the Commodity and Futures Trading Commission (CFTC), another regulatory body that has weighed in on ICOs, noted “significant noncompliance” with securities laws in the cryptocurrency space. “Many initial coin offerings, probably well over a thousand, many crypto exchanges, probably 100 to 200, are basically operating outside of U.S. law,” he said.

Article Produced By
Amy Castor

What’s a Cryptocurrency Airdrop? A Beginner’s Guide

What’s a Cryptocurrency Airdrop? A Beginner’s Guide

What’s an Airdrop?

Have you ever noticed an unexpected increase in your cryptocurrency wallet and didn’t know where the free coins came from? That, my friend, is most likely the result of an airdrop. Hoorah for free money! Airdrops can be delivered in a variety of ways, including forks (e.g. Bitcoin Cash, Bitcoin Diamond), ICO purchases (e.g.Raiden Network), and freebies (e.g. Binance gifting customers with 500 free TRX). Sometimes an airdrop will occur if a team behind the blockchain project decides to give away “free” tokens to the cryptocurrency community.

One of the most well-known examples of an airdrop is when a hard fork of Bitcoin, Bitcoin Cash, gave current Bitcoin holders an equivalent amount of Bitcoin Cash. At the time of the airdrop, if you were holding 0.4 Bitcoin, you were one of the many lucky receivers of 0.4 Bitcoin Cash. With Bitcoin Cash currently valued at $2,469.36 USD, that sounds like a pretty sweet deal!

Why do Airdrops Occur?

However, a big question still remains. Why does this happen, and why would a team decide to give away valuable tokens? Think about it this way. When you’re walking down the aisle of your favorite grocery store and employees are offering you samples of food to try, you may take a quick peek to analyze what the food is to decide if you want to try it. You take a bite, and it sure is delicious. The employee offering you the free sample then says “if you like it, you can find it in aisle 5 on the left-hand side”. From that single nibble, you may just go and buy the product.

In marketing, awareness is often one of the initial steps in a buyer’s journey. As with the grocery store example, psychology plays a crucial role in the aspects of an airdrop, as a buyer is much more likely to purchase a product they are familiar with than a product they know nothing about. Therefore, those in charge of distributing the tokens see an airdrop as a key opportunity to give you a taste of their tokens. Compared to alternate forms of costly advertising (such as Facebook Ads), airdrops are often a more effective approach to showcasing coins.

How Can I Inform Myself About an Upcoming Airdrop?

Many sites and online groups are dedicated to informing users of upcoming, past, and active airdrops. Icodrops and Airdropalert, for example, show a list of upcoming airdrops. They also advise you on how many days are left before they take place and what currency you need to hold at the time of each one to receive the coins. Another way to inform yourself of an airdrop is to simply keep up to date with the various social media accounts of each project.

That being said, often times, airdrops are surprises (unless you work with the project’s team). In other circumstances, an airdrop will be announced ahead of time and will have a different set of rules for receiving the tokens. The rules designated to an airdrop are decided on by the project’s team. This explains the differences in airdrop strategies. As of now, there are no standard implementation rules on how airdrops need to be designed. We may see official regulation on how they can occur if the government steps in.

A token airdrop currently underway is one from the ShipChain project. Their strategy is a bit more complicated than just holding a certain currency in your wallet and receiving free tokens. According to their website, “eligible” airdrop receivers will get the tokens in their respective wallets around March, as long as they follow these guidelines:

  1. Be an “active member of our Telegram group. An ‘active member’ means anyone that is a member of our Telegram community before the airdrop signup process is complete, which is two weeks from the Jan 15th start date.”
  2. “Pass KYC/AML (Know Your Customer/Anti-Money Laundering). This is a simple form we will have you fill out, it will be emailed to you within 1-3 weeks of completing this registration.”
  3. “Have a valid ERC20 non-exchange wallet.”

What Wallets Do I Need?

Usually, airdrops occur on the Ethereum or Bitcoin blockchain and all you need is an account on an exchange. However, those in charge of the airdrop will sometimes state a specific wallet that’s needed such as an “ERC20 non-exchange wallet”. If you’re new to cryptocurrency, you may not know what this exactly means and that’s ok, we’re here to help.

What ShipChain means by a non-exchange wallet is simply a wallet that isn’t located on exchange sites such Binance or Coinbase. Reputable non-exchange wallets include Exodus and Jaxx. For a detailed list of wallets, feel free to visit our Bitcoin Wallet guide. The article also includes ways to safely store your tokens and the advantages/disadvantages of using different types of wallets. An ERC-20 wallet simply means any wallet that supports the Ethereum blockchain system. Some tokens follow Bitcoin protocol, some follow Ethereum, etc. Therefore, it’s important to have a wallet that allows you to store ERC-20 tokens if that’s what the airdrop guidelines call for. MyEtherWallet (MEW) is a popular ERC-20 wallet.

 

Final Recommendations

Most importantly, make sure you are visiting the official site of the project when researching airdrops. A good way to filter out scam sites is to visit the official social media pages and find a post which links you back to their website.  As stated before, the cryptocurrency market is currently unregulated and the potential for fraud and coin theft is high. Reputable blockchain projects will not ask you for private wallet information beyond your wallet’s public address. Never give out your private keys to ICOs who claim to “need it” for your airdrop to be delivered. Identity theft and hacking attempts are prevalent in the cryptocurrency community, and you do not want to be a victim when proper measures can be taken.

Article Produced By
Erin Gorsline

https://coincentral.com/cryptocurrency-airdrop/

Final Draft of ICO Legislation Could Signify Next Step for Philippines Fintech Sector

Final Draft of ICO Legislation Could Signify Next Step for Philippines Fintech Sector

The Philippine Securities and Exchange Commission (SEC)

is due to unveil the hotly anticipated draft regulation for cryptocurrencies in the next few days, if the information provided by The Manilla Times is correct. If the regulation reflects the previous enthusiastic efforts to implement cryptocurrency in the Philippines, it stands to play a seminal role in defining the country’s status as a major player in the fintech sector. The SEC chairman, Ephyro Luis Amatong, has previously emphasised the need to regulate cryptocurrency exchanges as traditional trading platforms.

The draft comes in the wake of several Philippine lawmakers calling for the creation of a properly structured and above-board regulatory environment for Initial Coin Offerings (ICO) as the country opens up to the new technology. In spite of several successful DApps being developed in the country and the start of a promising upward trend for the Filipino fintech industry, officials are aware of the need to create a competent legislative framework to both protect their citizens from scams and for the sector to develop profitably.

In stark contrast to the majority of other central banks worldwide, the Philippines central bank — Bangko Sentral ng Pilipinas (BSP) — has been extremely proactive in ushering in both the implementation and regulation of cryptocurrencies. The central bank has developed a partnership with the SEC in order to establish “cooperative oversight.” SEC Chairman Amatong

explains their cooperation:

“We already discussed the matter with the BSP, since the BSP is also interested and we are also interested […] The discussion […] [involves] joint cooperative oversight over [cryptocurrency exchanges] engaged in trading.”

Back in 2016, the BSP deputy director Melchor Plabasan made clear his positive outlook on the potential of cryptocurrencies in a televised interview,

stating that:

“If you want something that is fast, near real-time and convenient, then there’s the benefit of using virtual currencies like Bitcoin.”

Final draft builds on months-long efforts to create effective legislation

As previously reported by Cointelegraph, this upcoming draft is the just the latest installment of the SEC’s attempt to regulate the cryptocurrency sector. In November 2017, the SEC announced that it would move to legalize digital currencies by classifying them as securities, using the example of new regulation in the United States, Malaysia and Hong Kong. The SEC chairman and then-commissioner Emilio Aquino shed light on the developments in a news conference:

The direction is for us to consider this so-called virtual currencies offerings as possible securities, in which case we will apply the Securities Regulation Code. The heightened frenzy and increasing popularity surrounding Initial Coin Offerings has pushed authorities to lay down new rules to protect consumers.” In August 2018, the SEC released their draft rules for public feedback. According to the official statement released by the local SEC, any company registered in the Philippines seeking to run an ICO must submit an initial request to the commision, establishing whether their token qualifies as a security. Companies must submit their assessment requests no less than 90 days before they plan to launch their sale period. The SEC will then review the request within 20 days and provide its findings in a written report.

The report also said that if ICOs were only to be distributed among 20 people or less, then registration with the SEC may not be compulsory. The proposed legislative framework seeks to set out clear rules to avoid the creation of fraudulent ICO projects. The SEC has been proposing to regulate crypto assets since late 2017. In April, the Philippines also floated the notion of defining cloud mining contracts as securities, given that the investors of the data centers operate the process via “investment contracts.” The SEC specified that they invited banks and investment houses, along with the investing public, to submit feedback on the proposed rules and set a deadline of Aug. 31.

Crime and punishment: The government cracks down on scams

Like most countries in which cryptocurrency is a burgeoning platform, the Philippines has been victim to a number of scams, as naive investors seek quick returns on offers that are too good to be true while regulators scramble to keep up. In May, an email circulated using the name of President Rodrigo Duterte, along with high-profile members of the Senate, encouraging them to part with their hard-earned pesos in order to invest in cryptocurrency, with the promise of high returns. The presidential spokesman for the Philippines was forced to step in and make a statement denouncing the email scam after President Duterte’s brother’s name was used in conjunction with the scandal. In his official statement,

Roque said:

“For your information, now that the President’s brother [is being dragged into that cryptocurrency scam], the President has asked me at least three times to announce and inform the public not to entertain any person peddling their alleged influence with the President, including his relatives.”

In another scandal, the Philippine’s SEC issued a warning to investors about Onecash Trading, another digital currency provider promising attractive returns of over 200 percent to investors in

only eight weeks:

"Facebook Account Onecash Trading is inviting the public to sign up to their website through a sponsored link and deposit an amount of P1,000 [$20] as an enrollment fee. Upon activation thereof, a member may opt to become a Trader with a promise receiving 25 percent return of investment every Thursday for eight consecutive weeks without doing anything, or to be a Builder wherein a member shall be receiving P 50.00 [$1] per direct and indirect invites, up to the 10th level."

The SEC stated that all investment schemes that make use of either fiat money or cryptocurrencies are deemed securities and are subsequently required to comply with existing regulations in the Philippines. The statement also came with a warning: Those who fall foul of the law could end up serving 21 years in prison as well as paying up to $100,000 in fines.

Cryptocurrencies are a relatively recent phenomenon for most countries. Their sudden skyrocketing into the very center of both public consciousness and the world of finance has often caught governments and issuers by surprise. As a result of this, governments are often on the back foot when it comes to legislation, leaving the door wide open for scammers. An example of this is the January hack of Coincheck in Japan, which led to the theft of $532 million worth of NEM. Anger at the hack was compounded by the fact that Coincheck was not registered with Japan’s Financial Services Agency and was therefore not subject to the same level of scrutiny as other exchanges in the country. The exchange froze all transactions and issued an apology. The Coincheck security compromise is indicative of wider issues in the crypto world, with over $1.2 billion worth of cryptocurrency stolen worldwide in 2017 alone. However, investors and regulators alike are learning from their mistakes. With the Philippine government taking steps to crack down on cyber crime, the wild west environment that has allowed startups and scammers to flourish in equal measure is soon to draw to a close.

The current legislation put in place by the Philippine government to deter cyber criminals has been deemed too tepid for some. Opposition politician Senator Leila de Lima is pushing a bill through the senate that seeks to impose drastically stricter punishments for crimes relating to cryptocurrencies. In her authority as a former justice secretary, de Lima used the April 4 arrest of two individuals for an alleged P900 million ($17.2 million) Bitcoin scam to emphasize the need for Senate Bill No.

1694 to be passed:

"I hope that this occurrence will push my esteemed colleagues in the Senate to take my proposed bill seriously and help pass it into law soon. Knowing that virtual currency resembles money, and that the possibilities in using it are endless, higher penalty for its use on illegal activities is necessary.”

De Lima provided a list of illicit activities that could use cryptocurrencies:

"Where unscrupulous individuals entice unsuspecting people to purchase fake Bitcoins, sending a virtual currency as payment for child pornography or a public officer agreeing to perform an act in consideration of payment in Bitcoins [direct bribery].”

De Lima’s bill would determine the severity of the criminal activity by the equivalent value of the funds raised through illegal activity. Depending on the amount illicitly raised and the circumstances in which the funds were raised, individuals could face lengthy prison sentences or even the death penalty.

Cryptocurrency and blockchain could help unite the Philippines fragmented payments sector

In a bid to keep the country at the forefront of the ever-expanding crypto frontier, the Philippine government has created the Cagayan Economic Zone Authority (CEZA). With countries like Malta and Switzerland already ahead of the curve in welcoming both blockchain and cryptocurrencies, the CEZA is the country’s response to the ‘Crypto Valley’ of Switzerland’s Zug canton. The Philippine government permitted 10 blockchain and cryptocurrency companies to operate in the zone, with the aim of promoting economic growth and generating jobs for its citizens. In spite of appearances, the zone isn’t just a tax haven free-for-all. Companies are required to contribute no less than $1 million over a two-year period, which, in turn, is topped up by up hundreds of thousands of dollars in fees. CEZA deputy administrator for planning and business development Raymundo T. Roquero explained what businesses must do to be able to operate

in the zone:

“When they apply, they will pay an application fee of $100,000 (P5.35 million) [and a] license fee of $100,000. Then you go into probity checks, then application programming integration (API), which costs an additional $100,000.”

In a ceremony granting licenses to operate in the zone in April, Roquero commented on some of the applications that had

been successful:

“These are offshore companies, and they have committed investments of $1 million (P534.6 million) each. GMQ intends to build [its] infrastructure in Sta. Ana, Cagayan […] and will have an incubation period of two years, so they are already allowed to operate here in Manila.”

Crypto activity in the Philippines, however, is not confined to the CEZA alone. The U.S.-based company ConsenSys has launched Project i2i — short for “island-to-island,” a payment network built on Ethereum that aims to connect the 400 rural community banks across the Philippines. Although there are evidently banks to serve the country’s many rural communities, they are neither connected to any wider electronic networks nor international money transfer systems, meaning that thousands of people are without a means of making quick and reliable payments.

The project uses a web API in order to allow banks to connect to a blockchain backend. This allows users to both carry out transactions and to make use of smart contracts on permissioned blockchain via ConsenSys’ Kaleido platform. Transactions signed through this system will allow for the pledging of digital tokens corresponding to an amount of Philippine pesos in an off-chain account, as well as redeeming and transferring tokens among other platform users.

Success stories help the government to keep an open mind about cryptocurrencies

In spite of a stumbling start to the outright acceptance of cryptocurrencies, the Philippine government is clearly waking up to the many advantages that the technology can bring. This change has not gone unnoticed by some of the industry players. In an interview with Nikkei, FintechAlliance chairman

Lito Villanueva said:

“With these startups come huge investments in their portfolio. Surely, each country would want to take a piece of the action. Taking blockchain and fintech players in with enabling regulations and potential investment incentives would surely make the game more exciting.”

Some of the nation’s startups have already brought in considerable investment. Perhaps the Philippines’ most well-known fintech startup success story, Coins.ph, raised $5 million in a Series A funding round, securing investment from Naspers and Quona Capital. Other Philippine crypto pioneers include Bloom Solutions and Satoshi Citadel Industries. Aiai Garcia, global business development lead for Consensys in Asia-Pacific commented on how the Philippines central bank’s openness toward cryptocurrencies had benefited the industry

within the country:

“Today, the Philippines has one of the most advanced blockchain payments apps in the world [Coins.ph], which provides 1.5 million Filipinos alternative access to their finances and other value-added services. [Philippine] regulators were also among the first to announce the regulation of Bitcoin as security."

It appears that the government is aware that the opportunities for fintech companies can bring benefits for itself. Department of Finance spokesperson

Paola Alvarez said:

‘’Secretary [Carlos] Dominguez is really pushing for the application of financial technology. He wants to harness fintech to improve business, for example, payment of taxes online."

As both cryptocurrency and blockchain technology gain footing across the globe, the potential benefits for the underdeveloped Philippine fintech industry are hard to deny. The disparate and fragmented nature of the island’s financial system could be revolutionized thanks to initiatives such as i2i, along with the nation’s many payment apps that have sprung up in recent years. With eager anticipation from high-profile government figures, the ICO regulations seem set to take the next step in defining the role of cryptocurrency in the nation’s future.

Article Produced By
Henry Linver

Henry Linver is a freelance journalist. He’s interested in how blockchain has the potential to radically change the world we live in and the transformative power of crypto.

https://cointelegraph.com/news/from-kazakhstan-to-uzbekistan-how-cryptocurrencies-are-regulated-in-central-asia

Cryptocurrency Airdrop Information

Cryptocurrency Airdrop Information

What is a crypto airdrop?

Currently the most commen crypto airdrops require a few simple social media task. These projects use an airdrop as a marketing campaign. Examples of this format are Shivom, TraXion and Sandblock. A Hardfork is a less common, but well known way to do an airdrop. At a certain block number a chain Hard fork's in to two separate chains. if both chains get miner and community support you now have 2 separate coins! The most famous examples of this are Bitcoin Cash & Ethereum Classic.

How do I get free crypto?

Every airdrop has a different set of rules. Currently new airdrops require retweets on Twitter, usually you need a minimum amount of followers. Make sure you have active social media accounts to be eligible for these free crypto tokens.
Most airdrops of today require to join their Telegram group so make sure to download the Telegram app.

Other possible requirements are:

  1. Reddit
  2. Facebook
  3. Medium
  4. Youtube
  5. Slack & Discord
  6. Linkedin

Check your wallets regularly to see if you received surprise airdrops. Platforms like Waves or Komodo have delivered airdrops for Waves or Komodo holders without any announcement.

Why do ICO's give away free tokens?

If you're not paying for the product, you are the product. With doing an airdrop the project creates awareness about their ICO or token. It brings people to the project that otherwise would not have owned or heard about it. It could lead to token price appreciation, since people value a token they own higher than a token they don't own. This is called the endowment effect.

Airdrops create a community/network of people who own the tokens. If you would list the token distribution after an ICO in a pie graph, a large part of the pie is still owned by the Dev's or project. Another large part is owned by people who joined a pre-sale. And a reasonable part is owned by people who invested in the ICO. An airdrop adds an extra slice to the pie and that slice will have the most people in it.

An airdrop also plants a seed. When you look at Coinmarketcap you will see a list of thousand coins. Just on page one you can see 100 coins listed. However if you have or had a coin that name is still in your brain. The seed is planted and whenever you check Coinmarketcap and scroll down, the name of the free e-Coin will jump out and people will check how it is doing. If they see an article that the free e-Token is doing well or bad, they are more likely to click it if they own it or previously have owned it. It's just like advertising!

Where do I sell my airdrops?

So now you have free crypto, what do you do? Many coins that do airdrops are PRE-ICO or just finished their ICO. This often means it is not traded yet on the bigger exchanges. You can check out our exchange page to see where you can best sell your crypto airdrops. We suggest you make an account at all exchanges we listed so you can easily sell and receive your crypto airdrops.

We hope you receive as many airdrops as possible and that they increase in value over time. Many projects that are now top 40 coins have done airdrops in their early stages, like NEM, DECRED & Ripple. You don't need to immediately sell your free crypto, there is nothing wrong with being a HODLer.

What are the exclusive airdrops?

Exclusive airdrops are only for AirdropAlert.com subscribers. We host special airdrops in collaboration with ICO’s. We are responsible for the registration, distribution and promotion of these airdrops. We have hosted Exclusive airdrops for over 20 ICO's and will bring you more in the near future. Are you an ICO that wants to do an Exclusive airdrop with us?

How do I keep my cryptocurrency safe?

The safest way to store your airdrops are hardware & cold storage wallets. These wallets store your coins offline, and therefore protect them from being hacked. There are a number of hardware wallets available. Not all cryptocurrency can be stored in hardware wallets. We advise you to store your crypto in wallets where you control your private keys. You don't want your free crypto to be stolen!

To avoid scams we have a few general rules:

  1. Never give your private keys!
  2. Use 2 Factor Authentication on your wallets
  3. Be careful downloading wallets of smaller project, possibly use a Virtual machine.
  4. Never click on links redirecting to wallets
  5. Don’t use your main email address to apply for airdrops
  6. Don’t re-use your passwords when you register on a website
  7. Don’t send small amounts of crypto to receive your airdrop

Earn a bounty by alerting us of scams

We strive to keep our website free of scam projects. Our team provides research behind each coin we list. However it is still possible we miss a scam project. Recently some projects changed their google form asking for private keys after we list them on our website. We award people with $5 worth in Ethereum if you email us about a scam on our website under upcoming or active airdrops. Help us to keep the site clean and prevent other people to be a victim of a scam.

What does the star rating and estimated value of the airdrops mean?

We rate the airdrops based on the ICO/token, website, social media, Bitcointalk thread and our experience dealing with over a thousand new airdrops.

***** The star rating:
 **** Excellent, a must join
  *** Good airdrop, estimated value medium-high 
   ** Legitimate airdrop, estimated value low
    *Join at your own risk

If an airdrop is not listed on our website it did not pass the approval of our analyst. This means that the risk of a scam is too high to promote through our platform. Airdrops that are not listed on our website are not eligible for our scam boun.

List your airdrop!

Do you want to list your airdrop on AirdropAlert.com? Please note that listing on AirdropAlert is free. Because we have a very long queue of pending Airdrops to be listed on AirdropAlert it might take several days for your Airdrop to be published. If you want your Airdrop to be reviewed before others, apply for Priority application.

Article Produced By
Airdrop Alert

https://airdropalert.com/

US Judge Rules That ICOs are Covered by Securities Laws

U.S. Judge Rules That ICOs are Covered by Securities Laws


A U.S. District Judge in Brooklyn has delivered a landmark judgement
 
with far-reaching implications for the initial coin offering (ICO) market. Judge Raymond Dearie of the U.S. District Court Eastern District of New York today ruled that U.S. securities laws cover ICO token sales.The ruling came in a case against a fraudulent ICO promoter Maksim Zaslavskiy, whom prosecutors are looking to bring up on fraud charges for defrauding investors of more than $300,000 from a scam ICO called REcoin.

REcoin ICO Scam

In Sept. 2017, CCN reported that the SEC charged Zaslavskiy and two of his companies with defrauding investors through a number of ICO scams including REcoin. REcoin was marketed to investors as being backed by real estate and diamond assets which in actual fact did not exist. In a pioneering ruling, Judge Dearie refused to dismiss the case against Zaslavskiy, whose lawyers earlier pled for dismissal on the basis that the ICOs in question were currencies and not securities, placing them outside the jurisdiction of the SEC Act.

An excerpt from today’s hearing file reads:

“He [Zaslavskiy] argues that the securities laws are  unconstitutionality vague as applied. The Government, meanwhile, asserts that the investments made in REcoin and Diamond were “investment contracts,” and thus “securities,” […] and that these laws are not unconstitutionally vague.”

Judge Dearie’s ruling on this matter was that an ICO is indeed a security for the purposes of federal criminal law, which is what prosecutors have argued since last year.

Implications of Dearie’s Ruling

The SEC claims the REcoin ICO scammed investors out of $300,000. Dearie has become the first judge to deliver a ruling that places ICOs firmly within the jurisdiction of securities regulators, and this could potentially have important implications for the ICO market by creating a precedent for future cases. While the CFTC has had some successes tackling fraudulent crypto offerings within its space, the SEC — which has long said that it has jurisdiction over most ICOs — had not yet established this authority in court.

An excerpt from Judge Dearie’s ruling reads:

“Zaslavskiy’s contrary characterizations are plainly insufficient to by pass regulatory and criminal enforcement of the securities laws. Because the indictment is sufficient under the Constitution and the Federal Rules of Criminal Procedure, and because the law under which Zaslavskiy is charged is not unconstitutionally vague as applied, Zaslavskiy’s motion is denied. The case will proceed to trial.”

While the ruling comes as a boost for prosecutors, the it is by no means a final word on the matter. In his comments, Judge Dearie noted that the ultimate decision rests with a jury and that Zaslavskiy’s lawyers can in fact still present the argument contesting the jurisdiction of securities laws to the jury.

Article Produced By
ICO News

https://www.ccn.com/u-s-judge-rules-that-icos-are-covered-by-securities-laws/

How To Earn Free Cryptocurrency With Airdrops

How To Earn Free Cryptocurrency With Airdrops

How To Earn Free Cryptocurrency With Airdrops

In life, we’ve been told that there is no such thing as a free lunch and you’ll always have to sing for your supper and for the most part its true. Even in the world of cryptocurrency, where coins receive crazy valuations overnight with swings of 30 – 50% can make you crazy money in the space of a week, there is still no way to score big without taking on some risk or putting in some hard graft. So now that we’ve established that you won’t get a free lunch, you are however entitled to getting a little snack for just about no effort through the magic of cryptocurrency Airdrops.

What are Airdrops?

A crypto airdrop is when a blockchain project decides to distribute free tokens or coins to the crypto community in order to gain interest as well as encourage usage and trading. It’s a great way to get initial marketing going and use word of mouth and the community to generate interest on your behalf. Airdrops are a way of creating micro-ambassadors for cryptocurrency projects and also drive investor interest. Since the user already owns the coin, monitors its progress and growth, they are more likely to invest money in it in future.

What popular coins that have had Airdrops?

A word of warning, not every cryptocurrency project that Airdrops will even get off the ground and you may be sitting on a few useless coins. There have been many failed projects in the past, but singing up costs you nothing. On a positive note, every Airdrop could be a potential gold mine and you may have just bagged some free coins that are going to the moon.

Popular coins that have used Airdrops to get community interest are:

  • Bitcoin Cash
  • Ethereum Classic
  • Stellar Lumens
  • OmiseGo
  • Qtum
  • Tron
  • CanYa

Now wouldn’t you have loved to have gotten a couple of those coins for free? I know I would.

How do I participate in an Airdrop?

Every airdrop has a different set of rules but for the most part, a simple sign up with an email address and a wallet ID should be all you need to claim your coins.

Direct application

If you’re serious about Airdrops I would suggest you make a Bitcointalk forum account to be able to apply for the airdrops that require contacting a team member (usually PM). Ethereum Dark airdrop is a good example of this format. Every person that wanted to apply for this ETHd airdrop had to PM the developer with his ETHd address to get the tokens. “Newbies” on the forum are often rejected for new airdrops, so we suggest you post once in a while to get a higher rank.

Hodlers

In certain cases, the only way to access a crypto Airdrop is to own a certain amount of coins of a certain blockchain in order to qualify. An example of this is the ONT airdrop that will be happening this month, only owners of NEO tokens can qualify but they have to also add these tokens to the native NEO wallet and cannot be held on an exchange.

Social media shoutouts

Other crypto airdrops require social media posts or you need to contact a member of the team on the Bitcointalk forum. These projects use an airdrop as a marketing campaign. Some new airdrops require retweets on Twitter, posts on Facebook or LinkedIn. Make sure you have active social media accounts to be eligible for these free crypto tokens.

Referrals

Certain Airdrops are looking to scale and often offer those who have signed up a chance to earn more coins by referring friends to sign up for the Airdrop. Having you do their marketing for them in exchange for a little extra crypto.

How do Airdrops work?

The format of these crypto giveaways is usually like this: At a pre-announced time the project behind the event will take a ”snapshot” of the blockchain, and anyone holding Ether or Bitcoin at that point will receive a certain number of free tokens. This can also be done on other blockchains, but Ethereum and Bitcoin are the most used for this airdrop format. The majority of Airdrop tokens are built on or use the ER20 token on the Ethereum blockchain a placeholder value. In order to hodl these placeholder or pre-ICO tokens, you will need to set up a wallet that can handle these requests.

The two options I’ve found to work best are MyEtherWallet & Metamask. Simply install these on your chrome or firefox browser as an extension or visit their website to create an ER20 token compatible wallet and use this ID to receive your free Airdrop coins. Once the Airdrop is over and the coin moves into ICO phase, check your wallet to make sure you’ve received your coins. Also, follow the community on Telegram or other social media platforms to stay informed about the Airdrop and progression of the project

Where can I find Airdrops?

If you want to get started with Airdrops a good place to start is signing up with Earn.com as well as Aidropalert.com. These sites will email you as soon as an Airdrop begins and provide you with all the details you need to claim your free cryptocurrency. Protip! To stay up to date with the latest airdrops check out the following post – How To Stay Updated With The Latest Cryptocurrency Airdrops So there you have it, how to earn some free crypto with Airdrops. So up up and away you go and hope you hodl to the moon!

Article Produced By
Che Kohler
of NicheMarket

https://www.nichemarket.co.za/blog/earn-free-cryptocurrency-airdrops/

ICOs are holding over 730M in treasuries and doing nothing with it

ICOs are holding over $730M in treasuries, and doing nothing with it

What is going to happen to all that cash?

 

If you thought that all those initial coin offerings (ICOs) that raised millions of dollars in cryptocurrency are busy spending that money on development in pursuit of delivering on their promises, you’d be wrong.Cryptocurrency insights firm Diar has revealed that companies which undertook an ICO before the last quarter of 2017 are sitting on huge cash reserves that could potentially fuel the startup for the next few years.

The total amount of Ethereum held in treasury by blockchain startups currently amounts to 3,744,651 ETH (or roughly $733,614,577 as of September 9). For context, this accounts for 3.7 percent of the total Ethereum supply. Over the last five months these ICOs have only liquidated 20 percent (907,024 ETH) of all total funds raised. Prior to the liquidation, the total amount of funds held in treasury was 4,651,675 ETH (or roughly $1,758,333,150 at this time).

Interestingly, the study also found that at least 12 blockchain-based businesses have a market capitalization that is smaller than the amount of Ethereum they currently hold in treasury. These are the 12 that actually are liquidating their reserves. On average, these companies have liquidated 62 percent of all Ethereum raised through an ICO.

One thing to point out here

is that the US dollar value of ETH has fluctuated dramatically since most of these companies’ fundraising efforts. Indeed, Ethereum has dropped from $378 on April 1 to $195 on September 9. With all this latent cash laying around, it is entirely likely that it could be used to support these companies and extend marketing efforts over the coming years.

There’s nothing wrong with that per se, but the issue is that this could potential obscure the poor performance of these companies in terms of adoption and product delivery. After all, these companies are under no legal obligation to deliver on their promises or pay back investors in the case of insolvency.

Article Produced By

Matthew Beedham

https://thenextweb.com/hardfork/2018/09/11/icos-mountains-treasury-diar/

3 Best Places to Find Airdrops

3 Best Places to Find Airdrops

It is common to come across numerous cryptocurrency airdrops

within the industry. Many new and upcoming coins and tokens choose to perform airdrops as a way to increase hype and attention for their products. It can also be an impressive way to kickstart (or bootstrap) a new ecosystem. The only problem is that not everybody knows where to look when trying to find airdrops. It is often the case that people hear about them only after they have concluded. When it comes to airdrops, it is ideal to be there at the start, as higher quantities of tokens are often given out early. Here is a list of the three best places to find airdrops from:

RightBTC

The cryptocurrency exchange, RightBTC, is by far one of the greatest places for finding airdrops. Not only does the exchange regularly run them, but they are also selective as to which tokens they choose to work with. RightBTC only conduct airdrops with companies that they trust. This means that you will only get airdrops for high-quality tokens. The exchange has run airdrops for both CEEK and EBOOST in the past, and with the announcement of their very own token (the Right Token), they revealed that they have more airdrops planned in the future. Keeping RightBTC on your radar is a guaranteed way to find out about new and upcoming airdrops.

AirdropAlert

AirdropAlert is a website which lists numerous airdrops within the community. It is regularly updated, and new airdrops are constantly announced. It also tells you how long the airdrop has been running for. AirdropAlert also runs a second site called BountiesAlert, where they showcase the various cryptocurrency bounties which are currently happening.  The one problem with both AirdropAlert and BountiesAlert is that they both will list any coin or token, regardless of whether it is a scam or not. They do not seem to perform any sort of checks to make sure that the airdrops they list are actually worthwhile. This means that each user must search for themselves first.

BitcoinAirdrops

The BitcoinAirdrops subreddit is dedicated to finding and discussing airdrops which exclusively pertain to Bitcoin. Since the Bitcoin Cash fork, numerous developers have been forking Bitcoin and creating their own coins. Sometimes when this happens, it is possible to freely claim a separate amount of coins on the new fork, so long as you have bitcoins first. The most famous time this happened was with Bitcoin Cash. Users who owned bitcoins before the fork could also claim an equal quantity of Bitcoin Cash. As developers are still out there forking Bitcoin, it is still possible to claim new coins.

Article Produced By

Aubrey Hansen

I am an enthusiastic freelance journalist interested in crypto world. I studied journalism and I am passionate about writing. More time passes, more I get confident about ..

 

https://captainaltcoin.com/3-best-places-to-find-airdrops/